CVS will buy Aetna, one of the country's largest health insurers, for $69 billion, the companies announced Sunday.
Aetna insures around 22 million people, while CVS runs more than 9,700 drugstores and 1,100 walk-in clinics. The deal, which must be approved by antitrust regulators, has CVS Health Corp. paying $207 in cash and stock for each share of Aetna Inc. The acquisition could lead to CVS turning its stores into places where customers can do more than just pick up their prescriptions and basic household items, like have their blood drawn or meet with a nurse practitioner.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Create an account with the same email registered to your subscription to unlock access.
-
What has Kamala Harris done as vice president?In Depth It's not uncommon for the second-in-command to struggle to prove themselves in a role largely defined by behind-the-scenes work
-
Today's political cartoons - September 16, 2024Monday's cartoons - a second assassination attempt, eating pets, and more
-
'If this is a race, China has a commanding lead'Instant Opinion Opinion, comment and editorials of the day
-
The government's growing concern over a potential US Steel takeoverIn the Spotlight Japan's largest steelmaker, Nippon Steel, is attempting to buy the company
-
Luxe landlords: High-end brands are moving into real estateUnder the Radar Luxury brands are investing in both commercial and residential property.
-
Can Starbucks' new CEO revive the company?Today's Big Question Brian Niccol has been the CEO of Chipotle since 2018 but is now moving to the coffee chain
-
US inflation drops below 3%, teeing up rate cutsSpeed Read This solidifies expectations that the Federal Reserve will finally cut interest rates in September
-
Google loses antitrust suit, declared 'monopolist'Speed Read A federal court has ruled that Google illegally dominated the internet search industry
-
The inconvenience store: Why are shops locking up even more merchandise?Under the Radar You may have noticed a surge in items stowed behind security glass
-
It's not your imagination — restaurant reservations are becoming harder to getIn the Spotlight Bots, scalpers and even credit card companies are making reservations a rare commodity
-
A massive copper shortage is on the horizonUnder the Radar It is estimated that mines will only meet 80% of copper needs by 2030
